Head of economic and cultural development Grant Thornton described the project to replace the 70s theatre as a “medium to long-term aspiration”.

He said the report describing the formal procurement exercise “makes it very clear that The Hexagon will continue to operate and Reading will continue to invest in its success to make sure that theatre provision in Reading remains buoyant”.

He described Theatre and Arts Reading Community Interest Company (TAR) mentioned in the report to the committee as having “parallel aspirations” .

Councillor Paul Gittings, lead member for culture, sport and consumer services, said the council would be “setting in train a course of events that will replace the theatre”.

Incredible eclectic mix

He said The Hexagon “is a facility that does us proud” praising its “incredible eclectic mix” of entertainment from opera to snooker and Mr Tumble to classical music.

He acknowledged it had “some staging difficulties with very big West End shows and certain kinds of musicals”.

Replacing the theatre would would take “several years”, he added, saying that the borough's contribution to the project would be land and planning expertise.

He referred to TAR, the first group to express a desire to be involved in the project to replace The Hexagon.

He described the company chaired by Melvin Benn, who runs Reading Festival and was at the policy committee meeting to hear the decision, as a “credible group” adding that the future partner could also be “someone else”.

Cllr Jeanette Skeats said TAR was an “incredible” group adding of Mr Benn: “If he’s the chairman of it, it probably will happen.”

She said: “This is very, very welcome and we will be supporting it.”

It was Cllr Richard Davies who talked about the success of West End shows touring around the country, producing record amounts of revenue for regional theatres.

He referred to shows like Wicked and The Lion King and said: “This is the beginning of showing that vision when we hope to hear Reading spoken of in the same sort of breath as these other theatres are.”

The committee agreed to start the open procurement process to find a “delivery partner” for a new theatre.